NEW ENGLAND POWER POOL

Welcome

The New England Power Pool (NEPOOL) was established in 1971 as a voluntary association of market participants from the six New England States.  The Participants Committee is the principal governing body of NEPOOL, which considers and acts on all matters affecting the New England region’s wholesale electric power arrangements, either directly or by delegation. The Participants Committee is made up of six energy Sectors in which every NEPOOL Participant, together with its Related Persons, is entitled to have a member and alternate.  The six Sectors are each represented by an Officer that is selected by the Sector on an annual basis. A Committee Chairperson is elected from among those Officers.  The Participants Committee meets monthly in a New England locale, typically in Boston or its environs, and has an annual Summer Meeting, typically at the end of June, at locations throughout the New England States.  


Jan 18  ISO-NE requests an extension of time for Chapter 3 Filing.  ISO-NE requested an extension of time, 
             to November 15, 2019, for the submission of the longer-term market solution to New England’s winter energy 
             security concerns that was directed in the FERC’s July 2, 2018 Mystic Waiver Order. ISO-NE also requested 
             that the period for filing answers to this request be extended to February 4, 2019 so as to allow for 
             Participants Committee consideration of this request at its the February 1 meeting.  View request here

Jan 18  February 1 NPC Meeting will be held in person (Boston, MA Colonnade Hotel).  The decision to hold 
             the meeting in person, rather than by teleconference as initially noticed on Jan 17, was driven by two matters 
             that could benefit from in-person discussion: (i) revisions to PP-10 (Agenda Item #6), considered at the Jan 17 
             Reliability Committee meeting; and (ii) the ISO-NE COO presentation of the circumstances surrounding a 
             temporary failure of ISO-NE's market software last summer (Agenda Item #4A).  View meeting materials here.

Dec 20  FERC conditionally accepts Mystic 8/9 COS Agreement, effective Jun 1, 2022, subject to a 60-day 
              compliance filing and paper hearing on ROE. 
Following expedited hearings conducted pursuant to its 
             initial July 13, 2018 order on the COS Agreement, the FERC conditionally accepted the COS Agreement subject 
             to a compliance filing due on or before February 19, 2019, and a paper hearing on the issue of return on 
             equity (ROE). Addressing capital structure and cost of debt, the FERC directed Mystic to adopt Exelon’s (rather 
             than ExGen’s) capital structure and long-term debt cost rate for ratemaking purposes. Mystic was further 
             directed, among other things, to recalculate its cost-of-service study, to recalculate its accumulated 
             depreciation and excess deferred income taxes, to revise the Agreement to remove recovery of certain fuel 
             supply costs, adjust the amount of recovery of the costs of Everett as Mystic fuel costs to 91%, to include a 
             sliding-scale, third-party sales incentive (consistent with FERC Staff’s proposal) and a provision for maintaining 
             a record of third-party sales for the purposes of verifying how revenues are credited. Mystic’s proposed true-
             up mechanism was accepted, in part, but with revisions required to provide greater information sharing 
             regarding capital expenditures. The FERC clarified that the true-up mechanism applies to all items with the 
             exception of items that are fixed or must be modified by filing an FPA section 205 filing (i.e., ROE). Mystic was 
             directed, with certain exceptions, to include a clawback provision like the mechanism described in the MISO 
             tariff. Additional changes, agreed to during the proceeding, were also directed, including the deletion of 
             section 2.2.1, changes to account for over- and underperformance credits and charges, and modification of 
             the Agreement to require that “ISO-NE seek Commission approval to extend the Mystic Agreement beyond” 
             the two-year term. The order included a dissenting opinion by Commissioner Glick. A more complete summary 
             will be provided to Participants Committee Members and Alternates. The Mystic order may be viewed here.



Jan 23       Transmission Committee - Westborough, MA DoubleTree Hotel.  materials.

Jan 24       Budget & Finance Subcommittee - teleconference.  materials.

Jan 29       Environmental Advisory Group - TBD.  materials.

Jan 30       Demand Response Working Group - TBD.  materials.

Feb 1         Participants Committee - Boston, MA Colonnade Hotel.  materials.


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